A New Reign New a Percent To359.70
▲ BEAUTY: ▲ RETAIL: ▲ MEDIA: A Q&A Kenzo Magazine newsstand with opens its sales slide in fi rst half, Frédéric largest page 13. Fekkai, store in page 6. Paris, page 12. ▲ BEAUTY: Van Cleef & Arpels launches another fragrance, Féerie, page 4. Women’sWWD Wear Daily • The Retailers’FRIDAY Daily Newspaper • August 8, 2008 • $2.00 Beauty A New Reign By dubbing it I Am King, Sean Combs leaves no doubt as to his expectations for his latest men’s fragrance, due as a Macy’s exclusive in December before rolling out to wider distribution in February. Industry sources estimated that the scent could do upward of $100 million globally in its fi rst year on counter. For more, see page 5. No Fireworks in July: Dow Falls as Stores Report Weak Comps By Alexandra Steigrad Retailers in July clearly felt the impact of the economic downturn, raising concerns over this month as stores get serious about back-to- school and fall selling. Wal-Mart Stores Inc. set the tone, missing analysts’ estimates with a 3 percent same- store sales gain in its U.S. discount stores in July and tempering expectations for August with a projection of a 1 to 2 percent gain in the critical retail metric. Even Wall Street caught the chill Thursday. With retail sales sluggish and crude oil rising on Thursday, the Dow Jones Industrial Average fell 224.64 points, or 1.9 percent, to 11,431.43, while the Standard & Poor’s Retail Index fell more sharply, contracting 2.1 percent to 359.70. See Weak, Page11 PHOTO BY PASHA ANTONOV; STYLED BY DANILO MATZ DANILO STYLED BY ANTONOV; PASHA PHOTO BY 2 WWD, FRIDAY, AUGUST 8, 2008 WWD.COM Polo Meeting Stresses Continuity By Vicki M.
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